51.15 -0.34 (-0.66%)
After hours: 6:18PM EDT
|Bid||51.04 x 3000|
|Ask||51.25 x 1800|
|Day's Range||51.00 - 52.47|
|52 Week Range||33.83 - 79.26|
|Beta (3Y Monthly)||2.19|
|PE Ratio (TTM)||78.25|
|Earnings Date||Jul 31, 2019|
|Forward Dividend & Yield||2.00 (3.88%)|
|1y Target Est||51.90|
The PowerShares QQQ ETF (NASDAQ:QQQ) came within a dime, but couldn't grind out new highs on Tuesday as we saw a decline in the Nasdaq today. However, that didn't stop everything from rallying, as Roku (NASDAQ:ROKU) stock burst as much as 8%, hitting new all-time highs in the process.Source: Shutterstock The stock clocked in over $113 at one point and it wouldn't be surprising to see the stock continue higher into earnings. After two huge post-earnings rallies, the stock is clearly on investors' radar. The stock was a clear leader on Tuesday and investors will look to see if they can keep squeezing shares higher amid this breakout.Not everyone was so lucky, though. Micron (NASDAQ:MU) continues to meet sellers, as it ran right into resistance. Shares fell about 3% on Tuesday, while Western Digital (NASDAQ:WDC) also dove on the day, down roughly 6%.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBitcoin had a rough day too, plunging more than 11% to $9,600 at the time of this writing. Some New PartnershipsBlue Apron (NYSE:APRN) stock surge more than 60% at one point on Tuesday. The move came on news that it will partner with Beyond Meat (NASDAQ:BYND). The two are starting out with a pair of burger offerings and will look to add other options moving forward. Both should be available by Aug. 26. APRN has had a horrendous journey thus far as a public company and has already resorted to a 1-for-15 reverse stock split. But the partnership could be a win-win for both companies, and at least for one day, has given APRN stock a much-needed shot in the arm. * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip While we await the likely IPO of DoorDash this year, it was announced that McDonald's (NYSE:MCD) will partner with the delivery company. The plan is to start with 200 locations in Houston later this month. If successful, it will roll out nationwide.DoorDash reportedly has contract drivers within driving distance of 80% of U.S. households, prompting MCD to add it to Uber (NYSE:UBER) Eats and choose it over GrubHub (NYSE:GRUB) and Waitr (NASDAQ:WTRH). WTRH hit a new 52-week low in the session, by the way.It has been a busy month for Big Blue. International Business Machines (NYSE:IBM) will report earnings on Wednesday, and just recently closed on its acquisition of Red Hat. That's not all though. The tech giant reached a multi-year alliance with AT&T (NYSE:T), to "support each other in networking and the cloud." Part of that support will come from IBM's recently acquired Red Hat. Splits and Analyst TakesAlibaba (NYSE:BABA) announced plans for an 8-to-1 stock split earlier this year, pending shareholder approval. Well, the company received the green light and BABA stock will split sometime before July 15th, 2020.There weren't too many big analyst actions to take note of, but Slack (NYSE:WORK) did receive some initiations. Morgan Stanley analysts slapped an equal-weight rating on Slack, while Goldman Sachs went with a neutral rating an $34 price target, implying about 2% downside. Click to Enlarge Don't fret though, bulls. William Blair analysts initiated WORK at an outperform rating, while Canaccord Genuity analysts started it at a buying rating with a $40 price target. Barclays and Keybanc also gave an overweight rating, using price targets of $45 and $44, respectively. Heard on the Nasdaq TodayLike IBM, Netflix (NASDAQ:NFLX) will also report earnings on Wednesday. However, after tying HBO -- now an AT&T property -- in Emmy nominations last year, HBO topped NFLX this year 137 to 117. Obviously, Game of Thrones helped tip the scales, pulling in 32 nominations on its own.Netflix may face a dilemma losing its top two shows in 2020, Friends and The Office, as well as other top content later on. It's no wonder CEO Reed Hastings has been spending so much on content over the last few years.Tech companies testifying on Capitol Hill seems to be about one of the most pointless events. It's clear Congress can't keep up with technology and they can't keep up with these companies. Nothing ever seems to come of it -- other than headlines.On Tuesday, Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Facebook (NASDAQ:FB) and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) were there, with hearings scheduled for tomorrow as well. It could be an important development though, as the government looks to build an antitrust case against several of these companies. Notice who's not there though? Microsoft (NASDAQ:MSFT).Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell was long ROKU, AAPL, AMZN and GOOGL. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip * 7 Services Stocks to Buy for the Rest of 2019 * 6 Stocks to Buy and 1 to Sell Based on Insider Trading The post Nasdaq Today: Rokuas New Highs; Beyond Meatas Partnership appeared first on InvestorPlace.
IntelliFlash Family Additions and OS 3.10 Enhancements Deliver Industry’s Highest Performing NVMe™ All-Flash Arrays with Superior Capabilities to Streamline Mission-Critical Worklo
Corporate profits for 2Q 2019 are expected to be weak, and a growing number of CEOs and other top executives are offering negative guidance.
Western Digital (WDC) closed the most recent trading day at $54.26, moving +0.41% from the previous trading session.
Memory stocks have been on the rise since June 25, when chip maker Micron Technology reported better-than-expected earnings results.
Western Digital Corp. plans to announce financial results for its fourth fiscal quarter ended June 28, 2019, after the market closes on Wednesday, July 31, 2019. The investment community conference call to discuss these results will be held that day at 2:30 p.m.
This morning, US index futures surged after Federal Reserve Chair Jerome Powell’s testimony raised the possibility of a near-term cut in interest rates.
Western Digital's (WDC) IntelliFlash portfolio will be integrated with SAP HANA's in-memory data processing capabilities to enhance productivity of business-critical applications.
Western Digital Corp NASDAQ/NGS:WDCView full report here! Summary * Bearish sentiment is moderate * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is moderate for WDC with between 5 and 10% of shares outstanding currently on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | NeutralETF activity is neutral. The net inflows of $5.26 billion over the last one-month into ETFs that hold WDC are not among the highest of the last year and have been slowing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Technology sector is rising. The rate of growth is very weak relative to the trend shown over the past year, and has continued to ease. However, the rate of expansion may accelerate in the coming months. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
SAP HANA Customers Gain Performance, Efficiency and Flexibility for Running Business-Critical Applications and Real-Time Analytics on IntelliFlash All-Flash Arrays
Following Micron's better-than-expected outlook it reported in June, fellow memory chip maker Western Digital could also be in line for positive results later this year, analysts at Cowen said in a note on Monday. Shares of Western Digital jumped more than 8% the day after Micron's report in which Micron forecast a recovery in memory chip demand in the second half of the year. Western Digital's stock was rising 1.63% to $49.31 a share on Monday morning.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. President Donald Trump’s decision to allow U.S. companies to continue selling to Huawei followed an extensive lobbying campaign by the U.S. semiconductor industry that argued the ban could hurt America’s economic and national security.In multiple high-level meetings and a letter to the Commerce Department, the companies argued for targeted action against Huawei Technologies Co. instead of the blanket ban the Trump administration imposed in May. That includes identifying specific technologies that the Chinese company shouldn’t be given access to, while allowing U.S. firms to supply the rest.The Semiconductor Industry Association, or SIA, a trade group that represents companies like Intel Corp., Broadcom Corp. and Qualcomm Inc., told the Trump administration that its sanctions against the Chinese company will make them appear to be unreliable partners, which will put them at a severe disadvantage globally.Representatives of chipmakers last month met with Commerce Secretary Wilbur Ross and Treasury Secretary Steven Mnuchin to argue that the decision to place the company on a so-called entity list could hurt the country, people familiar with the meeting said.In the letter seen by Bloomberg News, SIA said that the action risked cutting off its members from their largest market and hurting their ability to invest. At the same time, Huawei would in many cases be able to get components elsewhere, they argued.“Overly broad restrictions that not only constrain the ability of U.S. semiconductor companies to conduct business around the world, but also casts U.S. companies as risky and undependable, puts at risk the success of this industry, which in turn impacts our national security,” the group wrote last month. They added that the administration should take into account those factors when evaluating license applications from American firms.Their talking points seem to have found their way to Trump. After concluding a high-stakes meeting with Chinese President Xi Jinping in Osaka on Saturday, the U.S. president said American firms weren’t pleased with his Huawei policy and announced that he has agreed to let them keep shipping some of their components and technology.“I’ve agreed -- and pretty easily -- I’ve agreed to allow them to continue to sell that product so American companies will continue,” the president said during a press conference. “The companies were not exactly happy that they couldn’t sell because they had nothing to do with whatever was potentially happening with respect to Huawei. So I did do that.”He later clarified he will only allow them to sell “equipment where there is no great national emergency problem with it,” without offering more details. Trump’s comments stoked confusion among industry and analysts and the White House has not yet announced specifics on the path forward for U.S. companies doing business with Huawei.White House trade adviser Peter Navarro on Tuesday said Huawei’s involvement in 5G networks remains a "national security concern” but the sale of a “small amount of low-level chips” isn’t a “bad thing” if it persuades China to return to trade negotiations."5G is huge, selling a few chips to Huawei is not,” Navarro said in an interview on CNBC.While China hawks in Congress and Trump’s administration feared a potential reversal of the export ban, U.S. industry has been pushing the White House to ease restrictions that require American firms to get a U.S. government license in order to sell to the Chinese tech giant.A spokesman for SIA said the group has “consistently urged the administration to advance U.S. semiconductor leadership as it works to preserve national security, and we’re encouraged by the direction the president set in Osaka.”A Commerce spokesman said companies can submit license applications explaining the importance of exports on their business relationship. When a case is made for license approval based on concrete and supportable facts, decisions on those licenses are made. When data is absent, Commerce is unable to act, the spokesman said.Chipmakers have been placed in a tough spot by the trade dispute and security-related action against Huawei. China is their biggest market, providing about a third of revenue. They’re arguing that not all exports to Huawei and its affiliates pose a security risk and that much of what’s sold there is easily replaceable with non-U.S. products. Given the massive cost of research and development for chips, continuing to miss out on revenue could hurt their competitiveness.Their concerns were stoked by China’s response to Trump’s Huawei ban. In May, Beijing threatened to compile a list targeting companies that it says are not dependable suppliers. American firms were also spooked when Chinese government officials called them in for meetings and threatened to add them to the list if they don’t make sure the U.S. eases up on its ban, people briefed on the meetings said.The chip industry’s proposed solution is to ask for a narrower set of restrictions, according to people involved in the negotiations with U.S. government representatives. They argued that there are choke points -- crucial pieces of technology, that if withheld could slow down Huawei without totally crippling it. In many cases, providing chips without the engineering support and software needed to integrate them in devices is enough, the people said.Micron, IntelIn the letter the SIA highlighted several areas that don’t warrant a blanket ban. The memory chip industry is dominated by Korean makers with a 68% market share of the commodity products. That means if Micron Technology Inc., Intel and Western Digital Corp. are excluded from China, they will directly lose market share, the group argued.In analog chips, simpler components that convert things like sound and radio waves into digital signals, the U.S. owns 65% of the market. European and Japanese companies have ‘viable substitutes’ that Chinese customers could use. And even in logic chips, where companies such as Intel and Qualcomm have won the U.S. a 69% stranglehold, Huawei’s own HiSilicon chip unit is among a list of alternative providers that could offer replacements for crucial components of smartphones, computers and networking gear.National Economic Council Director Larry Kudlow said Sunday that the granting of licenses only applies to general merchandise. “Anything to do with national security concerns will not receive a new license from the Commerce Department. I think that’s very important.”Still, the Trump administration’s end goal remains unclear. Trump said he will only make a decision on what to do about Huawei when trade talks are in the final stages. “We’ll have to save that until the very end,” he said.(Updates with comments by Navarro from 10th paragraph.)\--With assistance from Margaret Talev.To contact the reporters on this story: Jenny Leonard in Washington at email@example.com;Ian King in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Brendan Murray at email@example.com, Sarah McGregor, Peter ElstromFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Western Digital stock’s big surge over the past month is an opportunity to take profits, according to Benchmark.
On July 1, we saw several semiconductor stocks rally. The VanEck Vectors Semiconductor ETF rose 2.8%, while the iShares PHLX Semiconductor ETF rose 4.4% on the day.
Western Digital Corp. shares are off 3.1% in premarket trading Tuesday after Benchmark analyst Mark Miller downgraded the stock to sell from hold. "While we believe Western Digital should be able to lever the supply short-fall into higher prices over the short-term, we also believe any price increases likely won't be enough to offset an expected 50% decline in NAND output during F1Q20 and they likely won't be sufficient enough to offset the 1H19 price declines during FY20," he wrote. "So while we see reasons for optimism, we think the recent pricing assumptions appear to be more than fully factored into the stock." Western Digital shares gained in the wake of Micron Technology Inc.'s better-than-feared earnings report in late June as well as last week, after WDC announced a power outage at one of its facilities that was expected to help relieve the industry's inventory buildup. Miller set a $40 price target on the shares, which have climbed 33% over the past month, as the S&P 500 has climbed 7.7%.